U.Today presents the top three news stories over the past day. Take a closer look at the world of crypto!

Advertisement

Bitcoin (BTC) might touch $56,000 on BlackRock ETF trigger

In a new report by Matrixport, a crypto financial service platform, its team highlighted Bitcoin's chances to surge to highs of $56,000 in the long term. These chances are based on BlackRock Inc., the world's largest investment bank, potentially approving the Bitcoin spot ETF. Despite the report's definition of a conservative estimate as $42,000, Matrixport analysts predict that with the inflow of around $50 billion from Registered Investment Advisors (RIAs) that may embrace the BlackRock iShares ETF offering, Bitcoin may spike to $56,000. They also called BlackRock's involvement in the Bitcoin ETF race a "game-changer" and a key trigger for the SEC to approve the ETF product more quickly.

Tesla puts crypto operations on hold, according to quarterly financial report

Tesla, the world-famous electric vehicle giant, has recently published its quarterly financial report . As stated in the company's documentation, in Q3, 2023, there have not been any Bitcoin purchases or sales, which marks the fifth straight quarter where Tesla has refrained from engaging in active BTC transactions. By the end of Q3, 2023, the company's Bitcoin holdings totaled approximately 9,720, with a valuation of around $275.6 million. Tesla's move of holding back from Bitcoin transactions coincides with a major shift in its overarching business strategies. In the report, the company summarized its prime objectives, emphasizing cost reductions per vehicle, maximizing delivery volumes, and a sustained commitment to investment in AI and growth projects.

Advertisement

Ethereum cofounder Vitalik Buterin confirms plans for AI